Universal Display's Management Presents At Deutsche Bank DbAccess Technology Conference (Transcript)

We have short term license material supply agreements with a number of customers who are just getting into the market place, AUO, LG Display, Pioneer, Sony, Chimei. AUO has announced in the fourth quarter they are going to start shipping mobile size handsets, Chimei in the middle of next year. Pioneer, actually has been making OLED displays on all of their car stereos for the past 10 years. Sony has actually made all 11 inch OLED displays but they really have no manufacturing capacity.

As I said, on the lighting side, we have actually signed five long term license agreements. The difference on the lighting side is, no one is committed the CapEx to start high volume manufacturing.

From a historical revenue standpoint, our revenues from 2009, '10 and '11 have grown from $15 million to $60 million. Our guidance for this year is between $90 million and $100 million on a quarterly basis.

We record our Samsung license fee of $30 million in the second quarter and the fourth quarter. Just because it’s a fixed payment, we actually have to record it when we would have received the cash. So it will make each quarter look a little lumpy in the quarters that we have it, clearly, they will be higher, in the quarters that we don’t, they will be lower.

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